Farmers & Mechanics National Bank v. Gilece (In Re Gilece)

OPINION

THOMAS M. TWARDOWSKI, Bankruptcy Judge.

The issue presented to the Court for resolution is whether plaintiff, Farmers and Mechanics National Bank [hereinafter referred to as F & M], a secured creditor of the defendant-debtor, is entitled to relief from the stay imposed by 11 U.S.C. § 362(a) (1979). For reasons hereinafter given, we conclude that the stay should be modified to permit F & M to pursue its remedies under state law with respect to the debtor’s interest 1 in the collateral, 5,112 shares of stock in Crown Oil and Wax Company of Delaware [hereinafter referred to as Crown],…